This is happening in the Betfury casinos AFAIK, I tried sending some BTC on my account, and then when I tried betting on sports, the amount they prompted was in USDT. It's kind of odd, that was just one time I did it. Unfortunately, I lost my first bet and then not trying it again.
I'm not sure if this is happening regularly to other casinos in crypto but its best they won't convert BTC into USDT when users bet. Most of us are trying to accumulate BTC and not USDT.
Topic: Deposits in crypto while balance in USD - page 2. (Read 196 times)
Every player can buy crypto to be used for casino gambling, as long as you have enough funds for gaming. It does make sense at all times and wagering responsibly is very important to avoid huge losses. I'd love to see more winnings in crypto rather than fiat cash, you have chances to increase its value while holding it on your wallet.
I think you miss the whole story here. The content is not about who can gamble responsibly or how much the person spends to buy crypto, which they use in gambling, but the major reason why casinos decide to measure their bet based on the price of the crypto as of the time the gambler places the bet and not by the volume used in playing the bet, which could have been a bit confusing for them or make someone upgrade to VIP level so easily when the price of that particular coin/token skyrocket. 
Yeah definitely. I think most of the casino are like this, or does any casino site pegged it to crypto cause everytime I play the amount catered but deducted even in bitcoin is in form of $ so I think its almost the same for everyone.
Probably when you do slots you just keep deducting some $ but you dont know how much it was on sat but assuming they based in on realtime value.
Probably when you do slots you just keep deducting some $ but you dont know how much it was on sat but assuming they based in on realtime value.
Although I agree with you, I understand crypto casinos that have their balance in dollars and not in crypto. Indeed, they are called crypto casinos precisely because you deposit in crypto and play with crypto, so your balance should be measured in crypto. On the other hand, however, it is very difficult for a casino to maintain this, especially when everything goes up (crypto price) and when it goes down.
If it is in fiat should be when casino will find it difficult to maintain if it is bear market. Because people will deposit bitcoin while the casino will estimate it in dollar but the crypto continue falling. If you deposited bitcoin and your balance is in bitcoin, there is nothing hard for the gambling site to maintain there. It is simple and the best and which is the reason almost all crypto gambling sites are making use of the method. The gambling site will also continue to make money from its customers. 
It's spent at what price the cryptocurrencies are. I've thought about the same thing before. Let's say I've spent half a Bitcoin in all of my gambling activities before so I should've got $45000+ in wager but that won't happen of course.
There are games though where it's still cryptocurrencies that you will see but in Stake.com you will also see the value in USD of the satoshis that you are betting above the bet amount.
In slots, it's different, you won't even see how many satoshis you are using in every bet, it's all just in USD and I think that's the correct way to do things or else it will be a big confusion in their system.
There are games though where it's still cryptocurrencies that you will see but in Stake.com you will also see the value in USD of the satoshis that you are betting above the bet amount.
In slots, it's different, you won't even see how many satoshis you are using in every bet, it's all just in USD and I think that's the correct way to do things or else it will be a big confusion in their system.
There are some gambling sites that will have the amount in fiat like USD but I can not use them. I prefer the gambling sites that leave the money in the coin that their customers deposited. This is how crypto gambling sites are and they are making money from their customers.
Although I agree with you, I understand crypto casinos that have their balance in dollars and not in crypto. Indeed, they are called crypto casinos precisely because you deposit in crypto and play with crypto, so your balance should be measured in crypto. On the other hand, however, it is very difficult for a casino to maintain this, especially when everything goes up (crypto price) and when it goes down.
And also for convenient reasons because people mix up when the units are in bitcoins or in sats and every time they may have to check using another tool which could affect the user experience as well. While some casinos that don't have rank up system just offers the betting as in bitcoins like bustadice.
That’s exactly how casinos operate, they’re not investment entities. While they accept crypto like Bitcoin, they prioritize risk management because they know how volatile crypto prices can be, especially Bitcoin. To handle this, they don’t just hold onto Bitcoin; instead, they cash out some or convert it into stablecoins like USDT. This strategy protects them if the price drops, ensuring their business stays stable.
When I read the OP, I didn't understand but this explains it better. Now I see why my favourite casino prefers to make their payout in Stable coin as the default even though the gambler has the option to choose another coin. It is all about managing risks as much as possible. Gamblers using Bitcoin for gambling don’t usually focus on its future value. For us gambers, it’s like a cycle that we buy Bitcoin, gamble with it, and if we win, we sell it back, so we really think of it like a currency. That’s why it makes perfect sense for casinos to use USD as the standard to reflect the value. It helps them calculate how much you’ve wagered to determine your VIP level or other perks. This approach keeps things consistent and simple. In fact, it seems to be the standard, as nearly every casino I’ve signed up with uses the same metric.
Yes, another great point. Personally, I am already used to see the value of my deposit or winnings in dollars. I remember one time I saw something like the mBTC but it made no sense to me.
So, if the casinos save the wager in crypto-amounts and not in USD the users would automatically level up their VIP without wagering, they only need to wait while the coin price goes up to the moon
And that's why the balance in USD or Local Coins makes sense.
The reason why people will deposit money on a gambling site is to use the money to gamble and not a means of investment. Most people make use of noncustodial wallet and exchanges for investments. Although, the proper way is to use noncustodial wallet because you will have full control over your coins.And that's why the balance in USD or Local Coins makes sense.
There are some gambling sites that will have the amount in fiat like USD but I can not use them. I prefer the gambling sites that leave the money in the coin that their customers deposited. This is how crypto gambling sites are and they are making money from their customers.
Gamblers using Bitcoin for gambling don’t usually focus on its future value. For us gambers, it’s like a cycle that we buy Bitcoin, gamble with it, and if we win, we sell it back, so we really think of it like a currency. That’s why it makes perfect sense for casinos to use USD as the standard to reflect the value. It helps them calculate how much you’ve wagered to determine your VIP level or other perks. This approach keeps things consistent and simple. In fact, it seems to be the standard, as nearly every casino I’ve signed up with uses the same metric.
I was thinking about this practice in casinos, and now after this crazy bump in the markets, it makes sense.
Casinos needs the wager in USD and not in cryptos, and that's because the wager affects the VIP level, so, if we wager 10 bitcoins while the btc price is in $20k that would mean $200k wager, but if the price goes up to $100k/btc then the wager for those 20 btc would be $2M.
So, if the casinos save the wager in crypto-amounts and not in USD the users would automatically level up their VIP without wagering, they only need to wait while the coin price goes up to the moon.
And that's why the balance in USD or Local Coins makes sense.
Every player can buy crypto to be used for casino gambling, as long as you have enough funds for gaming. It does make sense at all times and wagering responsibly is very important to avoid huge losses. I'd love to see more winnings in crypto rather than fiat cash, you have chances to increase its value while holding it on your wallet.Casinos needs the wager in USD and not in cryptos, and that's because the wager affects the VIP level, so, if we wager 10 bitcoins while the btc price is in $20k that would mean $200k wager, but if the price goes up to $100k/btc then the wager for those 20 btc would be $2M.
So, if the casinos save the wager in crypto-amounts and not in USD the users would automatically level up their VIP without wagering, they only need to wait while the coin price goes up to the moon.
And that's why the balance in USD or Local Coins makes sense.
This is 100% percent accurate. Crypto volatility will be a pain in the ass for casino bonuses especially loyalty rewards to calculate if there’s a sudden change in the price.
It can also work the other way, their VIP will be hard to reach if the target is still in crypto value like betting 1BTC before is much easier compared to current time due to the price is already on insane level.
Blackjack.fun is the best example here, they transition their wager count from Bitcoin to $ now when they revamped their VIP system since the price of Bitcoin will make previous players that wager huge amount of BTC reach the max level easily.
It can also work the other way, their VIP will be hard to reach if the target is still in crypto value like betting 1BTC before is much easier compared to current time due to the price is already on insane level.
Blackjack.fun is the best example here, they transition their wager count from Bitcoin to $ now when they revamped their VIP system since the price of Bitcoin will make previous players that wager huge amount of BTC reach the max level easily.
That’s exactly how casinos operate, they’re not investment entities. While they accept crypto like Bitcoin, they prioritize risk management because they know how volatile crypto prices can be, especially Bitcoin. To handle this, they don’t just hold onto Bitcoin; instead, they cash out some or convert it into stablecoins like USDT. This strategy protects them if the price drops, ensuring their business stays stable.
So, it makes sense that everything is measured in USD value, from transactions to the casino’s overall net worth. It’s all about minimizing risk and keeping their operations running smoothly regardless of market swings.
So, it makes sense that everything is measured in USD value, from transactions to the casino’s overall net worth. It’s all about minimizing risk and keeping their operations running smoothly regardless of market swings.
I was thinking about this practice in casinos, and now after this crazy bump in the markets, it makes sense.
Casinos needs the wager in USD and not in cryptos, and that's because the wager affects the VIP level, so, if we wager 10 bitcoins while the btc price is in $20k that would mean $200k wager, but if the price goes up to $100k/btc then the wager for those 20 btc would be $2M.
So, if the casinos save the wager in crypto-amounts and not in USD the users would automatically level up their VIP without wagering, they only need to wait while the coin price goes up to the moon.
And that's why the balance in USD or Local Coins makes sense.
Casinos needs the wager in USD and not in cryptos, and that's because the wager affects the VIP level, so, if we wager 10 bitcoins while the btc price is in $20k that would mean $200k wager, but if the price goes up to $100k/btc then the wager for those 20 btc would be $2M.
So, if the casinos save the wager in crypto-amounts and not in USD the users would automatically level up their VIP without wagering, they only need to wait while the coin price goes up to the moon.
And that's why the balance in USD or Local Coins makes sense.
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